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20130121
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know, as the economy has gone down there's been more homicides in the area where i live and i see it happening in more places. >>> the president talked forcefully he will not negotiate about the debt ceiling. let me play what one of your republican colleagues told me about that yesterday. >> would you be willing if you don't get the cuts that you think are necessary, would you be willing to go into default or shut down the government? >> i think there is a way to avoid default, if it requires shutting down certain portions of the government, let's like at that. >> are you worried about a shutdown or worse, are you worried about default? >> i'm worried about both. default is like saying i ran up my credit card and now i'm not going to pay you it's going to be bad for the united states. i think we need to pay our xwils. that's the first thing. with respect to shutting down the government so we save money. we know anytime we shut down the government, we actually spend more money in the long run. i do believe we need or national parks or rangers there. i do believe that it is importan
dan kerman is here to explain. >> when the economy outwith the economy in the dolldrums three years ago, congress created the payroll tax holiday, which cut the payroll tax from 6.2% to 4.2%.for 2011 and 2012. meaning more money in your paycheck to spend to help get the economy going. well that so called holiday expired at the end of last year. meaning your payroll tax goes back up 2% meaning less take home pay. here's what it means. households making between 40 and 50 thousand dollars will see 579 dollars less this year. those making between 50 and 75 thousand dollars will see about 822 dollars less this year. those making between 75 and 100 thousand dollars will pay 1,206 more in tax, or 100-dollars a month the big question is, will this impact the economy? since consumers have less in their paycheck each week, even if it's 25$ a week, will they spend less? some forecasters say definitely. others say we've paid this rate for years and this 2-percent will have little impact over the long term. especially when you consider that middle class tax rates are not going up. >> pam: now th
to hold wall street and the big banks accountable and protect consumer and the u.s. economy. >> after all we have been through, i don't believe that rolling back regulations on wall street will help the small businesswoman expand or the laid off construction worker keep his home. >> reporter: republicans in congress want to cut obama era and even bush era regulations which they dismiss as unnecessary red tape. two laws are at issue here. dodd-frank and sarbanes-oxley. dodd-frank is the signature financial reform of president obama's first term. it set up the consumer financial protection bureau to write new rules to prevent fraud and unfair lending practices and put limits on banks deemed too big to fail by monitoring threats and stopping another financial crisis. sarbanes-oxley was a response to a different crisis, the enron accounting scandal of the early 2000s. it set up stricter accounting rules for companies of all sizes. critics say it drives up costs for smaller businesses and restricts growth. what does it mean for small businesss? for the big banks? well, we spoke to a community
the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to be much, much worse, much bigger deal. talk to me about what we're debating or as the president puts it not debating? >> what we're debating or not debating is the idea that the debt ceiling in the united states is a very unusual tool, only one other country has it. and it is because what used to happen is whenever the government needed to spend money, particularly when you're in a deficit, the treasury of the united states would have to go out and issue bonds in order to get cash to pay for it. and that was just a cumbe
that the global economy will grow by 3% this year. the revised figure is 2% to 4%. officials largely blame the u.s. and europe for the drop. they said political squabbling over the fiscal glif and the upcoming debt ceiling debate pose big risks to the worldwide economy. the ongoing recession in the euro zone also a factor. >>> and winter weather prompts a state of emergency. salt trucks ran all night long to prevent sleet and freezing rain from the roadways and almost a quarter inch of ice formed on power lines and heavy rain is now causing flooding. >>> facebook's new search tool is surrounded by hype, but others think it might be a dude. it's called graph search and it's a way to search through your facebook network for answers. information google cannot access. you could look for restaurants your friends like, kind of like yelp or look for job connections like on linked-in or you can use it to find singles in your area. steven levy is the senior writer for "wired" magazine. steven, welcome. >> thank you. >> okay, you went to the facebook campus, experimenting with graph search. you interviewe
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Search Results 0 to 5 of about 6